Despite recent inflation-driven cost of living concerns, Cyprus’s middle class appears to be thriving based on consumption patterns, even as social inequalities widen, new data suggests. Key economic indicators show growth across multiple sectors, with increases in retail turnover, property sales, foreign travel, vehicle purchases, and particularly strong growth in food service and delivery sectors. However, […]
Tourist arrivals edged close to 3.73 million in the period of January to October 2024, recording an annual increase of 4.6% as well as a small increase of 0.81% compared with the respective period of 2019, a record year for Cypriot tourism. Furthermore, based on data by CySTAT, tourist arrivals in October 2024 amounted to 459,106 […]
The Bank of Cyprus on Tuesday announced that it has repurchased 50,000 of its ordinary shares with a nominal value of €0.10 each. The transactions were executed on November 18 on the Cyprus Stock Exchange (CSE) and the Main Market of the Athens Stock Exchange (ATHEX) through the company’s broker, the Cyprus Investment and Securities […]
The IDEA Innovation Centre, an initiative by the Bank of Cyprus, this week announced that it is now accepting applications for the tenth cycle of its startup programme. Aspiring entrepreneurs with innovative ideas are encouraged to apply by February 14, 2025. As the largest innovation and business support organisation in Cyprus, IDEA is calling for […]
Rental property investments in Cyprus are generating significantly higher returns than bank deposits, with rental yields ranging from 4 to 6 per cent compared to the average bank deposit rate of 1.98 per cent for one-year household deposits, according to October data. Property consultancy Danos International reports that Limassol, which has seen the highest rent increases in recent […]
UK-ASEAN Trade Mission in Cambodia (18-19 Nov) connects ASEAN women entrepreneurs with UK consumers. Similar B2B events to follow in Jakarta this week. The UK-ASEAN Trade Mission, part of the UK Government-funded UK-ASEAN Collaboration on Women’s Economic Empowerment, will connect women entrepreneurs from ASEAN with UK consumers on 18 and 19 November in Phnom Penh, […]
A group of 26 Japanese investors has shown interest in exploring investment opportunities in Cambodian agriculture, food processing, and aquaculture. Hun Manet, the Prime Minister of the Kingdom of Cambodia, received this group yesterday at the Peace Palace. Takahashi Fumiaki, former Japanese Ambassador to Cambodia and current President of the Japan-Cambodia Association (JCA), who led […]
SNC Sihanoukville New City, the Kingdom’s latest cutting-edge coastal development opportunity, covers an area of 2,500 hectares and is located adjacent to Sihanouk International Airport, just a 10-minute drive from the Phnom Penh- Sihanoukville Expressway. Planned by the Tongji Design Institute of China, it aims to create a future centre for Sihanoukville through an industrial […]
It takes around eight months to complete a house purchase in Greece, while in Italy it takes 120 days and in Cyprus only up to four days. Issuing a property identification number without the competent authorities having been digitized is the biggest problem. Almost one in two residences shows some surface discrepancy, between how it […]
Remember our island’s traditional markets? They’re being reinvented… Decades ago, market day meant catching the Bedford. Yes, larger villages had occasional markets, and there was always a panayiri. But the weekly shop down in the town (hair-raising hairpin bends on the bus; women sitting at the back, men at the front, and chickens in between) […]
Jane Phare cruises from Cambodia to Vietnam on a Viking riverboat, discovering there is much to see on the mighty Mekong. “The Mekong?” a friend queried when I told her about my 16-day trip to Vietnam and Cambodia, half of which was on a riverboat. “Isn’t it muddy, and what is there to see?” Turns […]
The Secretary of State and Spokesman of the Ministry of Labour and Vocational Training Katta Orn said that the growth of foreign investment this year in Cambodia is an important factor in creating job opportunities for people. Orn said that the growth of foreign investment is an important factor in creating job opportunities in various […]
The Council for the Development of Cambodia (CDC) and the Department of Business & Trade (DBT) of the United Kingdom held a roundtable meeting to discuss mechanisms to improve the investment climate for British private companies. The Cambodia-UK business roundtable meeting co-organised by KPMG International Limited was attended by Sun Chanthol, Deputy Prime Minister and […]
The three-day Water Festival ended on Saturday with a record-breaking turnout of over 7.75 million tourists visiting various festival venues nationwide, of which some 6.23 million tourists gathered in the capital Phnom Penh alone, a report from the Ministry of Tourism showed yesterday. The number of tourists rose by 21 percent compared to 6.38 million, […]
The total weight of goods transported by road within Cyprus increased by 9.1 per cent during the second quarter of 2024 compared to the same period in 2023, according to a report from the Cyprus Statistical Service (Cystat). In addition, the report showed that road freight to and from Cyprus also saw a rise, with […]
Tourist arrivals in Cyprus reached 3.73 million visitors in the first ten months of 2024, reflecting a 4.6 per cent increase compared to the same period in 2023. This also represents a modest 0.81 per cent rise compared to the record-breaking year of 2019, according to a report released on Monday by the Cyprus Statistical Service (Cystat). October […]